As the European startup ecosystem matures, you would expect young entrepreneurs to enjoy ever-increasing access to useful advice from mentors, business leaders, experienced entrepreneurs, legal advisors and investors. Yet, surprisingly, we continue to come across founders who have made significant mistakes in their early capital raises that we suspect go against their own instincts and jeopardize the foundations of the businesses they are building.
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This morning Monsanto announced its acquisition of The Climate Corporation. Index Ventures led Climate’s seed round and co-led or participated in every round the company has raised since. We are enormously proud of what David Friedberg and his team have achieved.
Since 2007, Index Ventures has been the largest shareholder in a rising star of pharma companies, ProFibrix - a visionary company whose lead product aims to save lives and speed recovery for patients undergoing bleeding during surgery and after trauma.
Today, our belief in ProFibrix - and particularly in founder Jaap Koopman, PhD - has been justified with the news of their acquisition by The Medicines Company.
Index Ventures is leading a €2.5m Series A investment alongside Angel investors in Paris-based Rad, a discovery platform for cool fashion, art and design products. Here, Martin Mignot who is joining the Board, explains why we are excited to be working with them…
Economics is occasionally derided as a phony science. Frankly I struggled with it school and university so to me this description really resonates. How can the graphs and formulae in the textbooks ever really capture the behavior of complex organizations and impulsive consumers?
FTSE 100 companies and the Public Sector are failing to take advantage of the transformative potential of the Internet economy, which now represents over 8% of UK GDP.
“Flatlining”, “pre-recovery”, “stagnant”, “sluggish” - we’re running out of adjectives to describe the UK’s seemingly moribund economy. Stripped of its AAA rating last weekend, it shrank by 0.3% in the final quarter of last year , and - amid signs of a possible triple dip recession - more of the same is predicted for 2013.
The Eurozone economy, meanwhile, is a horror show in slow-motion. After a contraction of 0.6% last year, the European Commission predicts that the 17 nation region collectively will shrink by 0.3% this year. And there will be no return to growth until 2014.
IT’S been described as “the $4.2 trillion (£2.7 trillion) opportunity”. According to the Boston Consulting Group, there will be 3bn internet users globally by 2016. If it were a nation, the internet-based economy would rank in the world’s top five. And the UK sits at the forefront, with 8.3 per cent of GDP now online – the highest proportion in the G20.
This month Gianni is retiring. We have been working together for almost 10 years. Gianni is a top level immunologist, with several claims to fame in his career: former head of biology at Human Genome Science and, before that, head of the cytokine and monoclonal antibody groups at Roche, where he also headed the interferon gamma group. He brought to the clinic the first ever drug from genomics research (MPF1). Finally, he's a relentless tailor of so many academic collaborations and he was responsible for extramural research at Merck Serono, his last corporate job. Then, for the last 10 years Gianni has been active in venture capital, having joined our Geneva office, as in house scientific advisor.
The ‘campaign’ to kickstart the London tech IPO market has kicked off. The blog posts that Neil Rimer and I both published have attracted a lot of press attention. The engagement we’ve had with No10 and the LSE should result in some small but important regulatory changes that should be seen as important steps towards making London a major hub for tech IPOs.
Here at Index, our conference rooms often play host to ardent debates. Robust discourse over where we should invest is an ingrained part of our culture. But when it comes to the fundamental issues that allow us to act on our mission of promoting the entrepreneurial ecosystem, we are generally in violent agreement. Over the last few months, we have mobilised around one major issue: to open the London IPO market and allow homegrown companies to realize their full potential.